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Renovus Capital Partners sells TPC Training and Jade Learning

Renovus Capital Partners, a private equity firm focused on education, training and human capital sectors, has sold its controlling interests in TPC Training (TPC) and Jade Learning (Jade) to Frontenac, a Chicago-based private equity firm.

Headquartered outside Chicago, IL, TPC Training is the leader in maintenance, repair, and operator training solutions that enable businesses to develop a more efficient, capable and safe workforce. Sister company Jade Learning is a provider of continuing education training, serving the electrical code, electrical safety and security alarm segments.

Renovus first invested in TPC in 2014 by sourcing and financing its transformative acquisition of American Trainco, a provider of instructor led maintenance and technical training. The acquisition gave TPC significant scale and a larger product portfolio. In 2016, Renovus furthered its investment in technical training through the acquisition of Jade Learning.

During its hold period, Renovus added key talent to the boards and management teams of TPC and Jade. The team enhancements and their strong execution on new product rollouts, customer acquisition strategies, geographic expansion and sales execution enabled significant organic growth in both TPC and Jade.

John Zenko, TPC’s Chairman, says: “Since founding TPC more than forty years ago, we were always a strong business that delivered best in class training to the maintenance staffs of the largest companies in the world. When Renovus came along, they helped drive us to the next level of scale and sophistication.”

“I am proud of what we have achieved to date and am confident that, with the team and resources that have been put in place over the last few years, we are well positioned for continued growth. Renovus has been a valuable and trusted partner, and I have truly enjoyed working with them,” says Derek Dunaway, CEO of TPC and Jade.

Jesse Serventi, Founding Partner of Renovus Capital said, “When we brought a strategic acquisition idea to TPC in 2013, we were not yet an investor in the company. They liked that we showed up with a view and value add immediately. Since then, we have enjoyed working with the TPC and Jade teams to build an outstanding company.”

DLA Piper served as legal counsel to TPC and Jade in the sale.

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